What are the allowances given to SBI PO?

<p dir="ltr">The SBI PO salary is one of the major reasons for candidates to get into the banking domain aling with lucrative perks, and allowances. The table below shows the basic salary and numerous perks given to a candidate selected as SBI Probationary Officer.</p><div dir="ltr" align="left"><table><colgroup><col width="153"><col width="471"></colgroup><tbody><tr><td><p dir="ltr">Basic Pay</p></td><td><p dir="ltr">INR 41,960 (with 4 advance increments). The pay scale is INR 36000-1490/7-46430-1740/2-49910-1990/7-63840</p></td></tr><tr><td><p dir="ltr">Dearness Allowance</p></td><td><p dir="ltr">DA is revised every quarter and is calculated based on CPI (Consumer Price Index). Currently, DA is 46.9 per cent of the basic pay</p></td></tr><tr><td><p dir="ltr">City Compensatory Allowance (CCA)</p></td><td><p dir="ltr">CCA varies with the place of posting of 4 per cent or 3 per cent</p></td></tr><tr><td><p dir="ltr">Leased House Accommodation</p></td><td><p dir="ltr">SBI PO is entitled to take a house on lease. The amount of which varies with posting between a minimum of INR 8000 (in rural areas) and a maximum of INR 29, 500 (In Mumbai)</p></td></tr><tr><td><p dir="ltr">Furniture Allowance</p></td><td><p dir="ltr">INR 12,0000 for the purchase of furniture</p></td></tr><tr><td><p dir="ltr">Medical Insurance</p></td><td><p dir="ltr">100 per cent of medical coverage for SBI employees and 75 per cent for their family members</p></td></tr><tr><td><p dir="ltr">Travelling Allowance</p></td><td><p dir="ltr">For official travels, reimbursement of AC 2-tier fare provided</p></td></tr><tr><td><p dir="ltr">Petrol</p></td><td><p dir="ltr">50 Lts (For 2 Wheelers) Or 55 Lts (For 4 Wheelers) Or Approx. INR 1100-1250 if you do not have 2/4 wheelers (conveyance allowance)</p></td></tr></tbody></table></div>

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<p>Candidates selected to the post of Probationary Officers are eligible for DA, HRA/Leave rental, CCA, Medical and other allowances and perquisites. SBI offers a very lucrative salary package compared to other public sector banks. The total package of SBI PO is INR 8.20 Lacs (minimum) and INR 13.08 Lacs (maximum) depending on the place of posting. The details regarding the allowance are given below.</p><table border="0" width="100%" cellspacing="0" cellpadding="0"><tbody><tr><td width="52%"><p><strong>Allowance</strong></p></td><td width="47%"><p><strong>Amount</strong></p></td></tr><tr><td width="52%"><p>Dearness Allowance&nbsp;</p></td><td width="47%"><p>26% of the Basic Pay</p></td></tr><tr><td width="52%"><p>City Compensatory Allowance&nbsp;</p></td><td width="47%"><p>3%-4% depending on location</p></td></tr><tr><td width="52%"><p>House Rent Allowance&nbsp;</p></td><td width="47%"><p>7%-9% depending on place of posting</p></td></tr><tr><td width="52%"><p>Furniture Allowance&nbsp;</p></td><td width="47%"><p>INR 1,20,000</p></td></tr><tr><td width="52%"><p>Medical Insurance&nbsp;</p></td><td width="47%"><p>100% covered for employee (75% covered for dependent family)</p></td></tr><tr><td width="52%"><p>Travelling Allowance</p></td><td width="47%"><p>AC 2-tier fare is reimbursed to the employee for official travels</p></td></tr><tr><td width="52%"><p>Petrol Allowance&nbsp;</p></td><td width="47%"><p>INR 1,100-1,250</p></td></tr><tr><td width="52%"><p>Newspaper Allowance, Entertainment Allowance, Books Allowance, etc.&nbsp;</p></td><td width="47%"><p>Varies based on Cadre</p></td></tr></tbody></table>

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